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I stumbled across this on the Face Place. I'm not smart enough to figure out what, if anything it actually means, but still found it interesting.

It is interesting. To me, watching the names I know and how they made their money, it is a very interesting commentary on how the economy changes over time. I would have to look up the rest of the people and see what fields they are in to verify my initial impression, but the growth of technology over direct retail sales is interesting.

srothstein wrote: ↑Wed Oct 21, 2020 2:20 pm It is interesting. To me, watching the names I know and how they made their money, it is a very interesting commentary on how the economy changes over time. I would have to look up the rest of the people and see what fields they are in to verify my initial impression, but the growth of technology over direct retail sales is interesting.

Yeah, I was surprised to see Wally world drop out of the picture. Up through the end of the 90s, it looked like it might wind up with the whole ball of wax.

Wealth is sometimes confused with Caash.

Bernie seems to purposely make this mistake a lot.

Most of these people have their wealth tied up in the stock they own. They would pay gigantic tax bills if they were to sell to have Caash.

Old friend always said it doesnt matter how rich you are, it’s how much Caash you have.

philip964 wrote: ↑Wed Oct 21, 2020 4:03 pm Wealth is sometimes confused with Caash.

Bernie seems to purposely make this mistake a lot.

Most of these people have their wealth tied up in the stock they own. They would pay gigantic tax bills if they were to sell to have Caash.

Old friend always said it doesnt matter how rich you are, it’s how much Caash you have.

That is correct. It would still be nice to have that kind of wealth, but one can easily see that their wealth moves up and down with the value of the stocks they own. Truth of it is, not only would selling all their stock to have the cash result in a huge tax bill, it would also plummet the stocks they hold so much of. If word got out, and it would, that Jeff Bezos or Bill Gates were selling big chunks of stock, itwould crash the value before they could sell it all. I would be happy with just a thousand shares of Amazon stock. LOL. And Jeff could give it to me and not even notice the hit on his wealth.

BigGuy wrote: ↑Wed Oct 21, 2020 2:47 pm

srothstein wrote: ↑Wed Oct 21, 2020 2:20 pm It is interesting. To me, watching the names I know and how they made their money, it is a very interesting commentary on how the economy changes over time. I would have to look up the rest of the people and see what fields they are in to verify my initial impression, but the growth of technology over direct retail sales is interesting.

Yeah, I was surprised to see Wally world drop out of the picture. Up through the end of the 90s, it looked like it might wind up with the whole ball of wax.

The Waltons didn't lose any of their billions, They lost a lot of their fast growth when Sam died, and the family went from American Pride to Chinese junk. The family is just too stupid to recognize the coincidence, The others just increased their worth well beyond theirs. Warren Buffett is one notable that is not heavily into technology.

I'm not certain that the numbers are completely accurate. Somehow Paul Allen ranks highly and then Bill Gates pops up out of nowhere? That is not logical. A lot of these people specialize in hiding assets. The Rockefellers are the classic example:

In his book Outliers, author Malcolm Gladwell estimated the value of Rockefeller's fortune at its peak, in today's dollars, at $318.3 billion. You read that right: John D. Rockefeller, the founder of Standard Oil, was over three times richer than Bill Gates is today...

The sheer number of Rockefeller descendants clearly makes pegging the actual wealth of the family extremely difficult, if not impossible; with it mired in hundreds of trusts and real estate holdings (including, in the past, the World Trade Center and Rockefeller Center), we can merely guess

Fox 2016

Yep, my name still isn't there. Aw well, maybe next year. Naw, never going to happen.